ATB Financial announces Curtis Stange as new president and CEO
Alberta’s Crown-owned financial institution ATB Monetary introduced Thursday its subsequent president and CEO is Curtis Stange, who will change the retiring Dave Mowat.
After 11 years as head of the monetary establishment, Mowat might be stepping down as CEO and president on June 30.
READ MORE: ATB president Dave Mowat retiring after 11 years
The province formally authorized Stange’s appointment. He’s at present ATB’s chief buyer officer and has greater than 30 years expertise in banking.
“To be given this chance is extremely humbling and I’m impressed to work alongside 5,000 workforce members wealthy with tradition and obsessive about serving our prospects,” Stange mentioned.
“We now have the possibility to remodel banking and turn into greater than a financial institution. We even have the privilege of utilizing expertise for the higher good of all Albertans and I can’t wait to see what our future holds.”
“Curtis is the right option to turn into ATB’s subsequent president and CEO,” mentioned Mowat.
“ATB prides itself on being greater than a financial institution and Curtis is definitely greater than a banker. I’m assured that, beneath his management, there’s a fair brighter future forward for ATB.”
Mowat, who will flip 63 subsequent month, has three grownup kids and is hoping there might be a possibility to be concerned in a household enterprise.
“One is a geomatic engineer, one other builds homes and the opposite is a banker. They’re all fascinated with a household enterprise of some form,” Mowat advised International Information when asserting his retirement from ATB earlier this yr. “It is going to be enjoyable to work with them. I’m flattered our children wish to do one thing collectively.”
Mowat led the financial institution by the 2008-09 monetary disaster, in addition to the oil hunch that took maintain in 2015. He leaves because the financial system reveals indicators of restoration.
He was additionally the chairman of an Alberta authorities panel that carried out a royalty overview in 2015. His overview advisable maintaining issues the identical for oilsands tasks, however tweaking the framework for standard oil and pure gasoline wells so royalty charges higher bear in mind the prices of drilling, as an alternative of simply manufacturing charges and commodity costs.
READ MORE: Alberta units out particulars for brand spanking new oil and gasoline royalty framework
Since Mowat assumed the highest function, ATB has grown from $20.three billion in complete property in 2007 to $49.6 billion as we speak. In that very same time, the variety of ATB prospects has grown from 600,000 to 740,000.
Since 2007, the monetary establishment has contributed $72 million in company donations and sponsorships, together with elevating $9.1 million for the United Means and $9 million for the Stollery and Alberta Kids’s Hospitals.
READ MORE: ATB launches digital banking assistant on Fb Messenger
Mowat additionally spearheaded the Mild the Bridge undertaking, which used particular person donations to fund programmable LED lights throughout Edmonton’s Excessive Stage Bridge.
WATCH: Jul 1, 2014 — Quinn Ohler took a take a look at what it took to get the lights on the Excessive Stage bridge.
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